- Meta’s Reality Labs exceeded nearly all its 2024 sales and user targets: internal memo.
- CTO Andrew Bosworth said “2024 was a pivotal year for Reality Labs” in the memo seen by BI.
- Bosworth said Meta is seeing “massive sales growth in wearables” and its Quest brand is strong.
Meta’s Reality Labs beat nearly all its sales and user targets for 2024, Business Insider has learned.
CTO Andrew Bosworth announced Reality Labs grew 2024 sales by 40%, according to an internal memo seen by Business Insider.
Bosworth announced a reorg in the post shared on Meta’s internal forum Workplace, while giving employees insight into the division’s performance.
“2024 was a pivotal year for Reality Labs and positioned us for greatness in 2025,” Bosworth wrote.
“The team beat nearly all of last year’s aggressive sales and user goals, growing RL sales >40% YoY overall,” he added. “We are seeing massive sales growth in wearables and the Quest brand has never been stronger.”
On Christmas Day, the company’s Horizon app, which users must download to set up Meta’s Quest VR headsets, was the top free app in Apple’s App Store in the US and the UK, suggesting strong holiday demand.
Bosworth added that the Reality Labs Business Group (RLBG), the division which was led by Reality Labs COO Dan Reed, was a “major part” of setting the company up for the future.
Meta didn’t respond to a request for comment.
Meta’s Reality Labs division has been under scrutiny as it continues to incur substantial losses due to heavy investments in augmented reality technology. Since 2020, Meta has recorded losses of more than $50 billion from the group.
CFO Susan Li said in a recent earnings call that Meta plans to continue to invest “significantly” in Reality Labs, which Li said is a “strategic long-term priority.”
Meta is scheduled to announce fourth-quarter earnings on Wednesday.
In the third quarter, Reality Labs reported operating losses of $4.4 billion. The division’s revenue for that quarter rose 29% year-on-year to $270 million.
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